Karachi: The KSE-100 index experienced a notable rebound, closing at 180,513, after hitting a low of 178,725, but still ended down by 2,537 points. Trading volumes increased to 874 million shares from the previous 735 million, showing heightened market activity. The index remains above its 50-day moving average, suggesting limited downside potential, while resistance is anticipated at 184,624, the 30-day moving average.

According to JS Global, the market's momentum indicators are currently mixed, offering no clear trading direction. They recommend a strategy of 'Buy on dips', with an advised risk level defined below the 50-day moving average. The identified support and resistance levels are 178,572 and 182,605, respectively, indicating the potential trading range for the near future.

Specific stock recommendations include OGDC, which has support at its 50-day moving average. The suggested strategy is to 'Buy on dips', with target prices set at Rs304.42 and Rs310.49 and a stop-loss at Rs297.05. Similarly, DGKC is expected to consolidate, with a 'Buy on dips' approach targeting Rs222.09 and Rs225.48, and a stop-loss at Rs211.11.